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The company sells a number of next-generation sequencing-based tissue and liquid biopsy tests for cancer therapy selection to the Chinese market.
Progenity recently agreed to pay millions to three major insurers under settlement agreements related to allegations over undisclosed past business practices.
The firm has granted the underwriters an option to purchase up to 2,400,000 additional shares, which would contribute additional gross proceeds of up to $38.4 million.
The company recently agreed to pay millions to three major insurers under settlement agreements related to allegations over undisclosed past business practices.
The Beijing-based company offers genomics products and services, including PCR instruments and cancer sequencing, and maintains a research center in the US.
ArcherDx has leveraged next-generation sequencing to develop and commercialize more than 325 research-use-only products and a pan-solid tumor diagnostic test.
The company said that a large portion of the offering's proceeds would be used to end criminal and civil investigations over its past billing practices.
The Massachusetts sequencing firm has been selling technology originally developed by Helicos BioSciences and planned to increase marketing with the IPO proceeds.
The Chinese company has also granted the underwriters of the offering an option to purchase an additional 200,004 ADS to cover overallotments.
Although Illumina's failure to acquire Pacific Biosciences stood out in 2019, the upward trend in M&A activity in the omics space in 2018 continued last year.
Researchers have developed a robotic lab assistant, the Verge reports.
CBC News reports Canada's Supreme Court is to rule on the constitutionality of the country's genetic non-discrimination law today.
The Associated Press reports the World Health Organization is sending experts to China to investigate the animal source of SARS-CoV-2.
In Science this week: atlas of affected cell populations in idiopathic pulmonary fibrosis, and more.